The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Intersect ENT, Inc. (NASDAQGM: XENT) who purchased shares between August 1, 2018 and May 6, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Intersect lawsuit alleges that (1) Intersect lacked adequate reimbursement representatives to ensure physicians had access to SINUVA, Intersect’s sinus implant; (2) Intersect’s sales force would focus on ensuring reimbursement; (3) Intersect’s sales representatives were less focused on driving sales; (4) physicians were less likely to adopt Intersect’s SINUVA due to transaction costs associated with seeking reimbursement; (5) Intersect would increase staffing to address these issues; and (6) as a result of the foregoing, defendants’ positive statements about Intersect’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until July 15, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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